The Economic Development New Mexico (EDNM) recently announced an opportunity to help companies expand into overseas markets. Small businesses looking to increase international sales can apply for the 13th cycle of the State Trade Expansion Program (STEP).
The STEP program assists businesses with foreign trade show booths, trade missions, and business matchmaking opportunities. It also supports global website optimization, international market research, foreign product registration, and training. The federal government funds the initiative, while state governments administer it.
This latest opportunity comes alongside a new impact report. The findings cover companies that received STEP grants during the last round, which ran from October 1, 2023 to September 30, 2025. These businesses reported more than $1 million in aggregate export sales.
How STEP Has Helped Small Businesses
“These STEP grants are one of our best tools to help New Mexico’s small businesses, while expanding global trade at the same time,” said EDNM Secretary Rob Black. “The success of this program demonstrates what’s possible when we invest directly in our businesses and give them the tools to compete on a global stage.”
The New Mexico Trade Alliance serves as EDNM’s public-private partner for expanding the state’s global trade and investment opportunities. It has managed the STEP program on behalf of the department since 2021.
During the last STEP cycle, the state awarded $200,000 in grants to 29 companies across New Mexico. More than one-third of the recipients operated outside the Albuquerque metro area, and more than 20% operated in rural communities.
Participating companies said the funding helped them retain 146 jobs and create 16 new ones. During the grant period, 16 businesses made new export sales, while more than 80% reported increased international brand awareness. The companies also reached new markets across North America, Europe, and Asia Pacific.
How to Apply for STEP
The latest grant cycle, known as STEP 13, will open for applications on October 1, 2026.
To qualify, your company must meet these requirements:
- Be registered with the state of New Mexico
- Offer goods or services with at least 51% U.S. content
- Have operated for at least one year
- Employ 500 or fewer people
The New Mexico Trade Alliance will host a free STEP orientation webinar on September 24 at 1 p.m. The session will help interested companies learn more about the program and the application process. Businesses can register here.
